SPOT rates for container shipping continued to fall during the third week of October 2024, according to the World Container Index published by Drewry, reports Genoa's Trasporto Europa.
The composite index decreased by four per cent in one week, settling at US$3,095 per FEU. This figure represents a 70 per cent drop from the peak reached during the pandemic in September 2021, when rates hit $10,377 per FEU, but it is still 118 per cent above the pre-pandemic 2019 average of $1,420 per FEU.
The average composite index for 2024 stands at $4,036 per FEU, which is $1,200 higher than the 10-year average of $2,836 - a figure significantly influenced by the exceptional period of 2020-22 during the Covid crisis.
This indicates that although prices are declining, the market remains well above historical pre-pandemic levels.
SeaNews Turkey
The composite index decreased by four per cent in one week, settling at US$3,095 per FEU. This figure represents a 70 per cent drop from the peak reached during the pandemic in September 2021, when rates hit $10,377 per FEU, but it is still 118 per cent above the pre-pandemic 2019 average of $1,420 per FEU.
The average composite index for 2024 stands at $4,036 per FEU, which is $1,200 higher than the 10-year average of $2,836 - a figure significantly influenced by the exceptional period of 2020-22 during the Covid crisis.
This indicates that although prices are declining, the market remains well above historical pre-pandemic levels.
SeaNews Turkey
